topic Re: Should I apply for a 2nd AmEx? in Credit Cards

Should I apply for a 2nd AmEx?

ficojoe — Thu, 15 Nov 2012 05:50:45 GMT

I just got my BCE and I am moving all my personal expenses to it.

I'd love to earn cash back on all my business expenses too. But, I'd like to keep them seperate and have my work pay the bill directly for me every month.

What is the best choice for this? I do not want an AF.

Will they approve me for a second card so soon? Do they have any options where I can just use the same credit limit but keep purchases seperate somehow?

Can you have two BCE cards? Or should I try for a clear or something else?

A charge card would be fine, I do not need a revolver, but I think all the charge cards come with an AF.

Re: Should I apply for a 2nd AmEx?

trumpet-205 — Thu, 15 Nov 2012 06:33:34 GMT

Do NOT put business expense on AMEX personal card. Not only this is a violation of their terms but it is also an invitation to FR and possible AA.

Either open an AMEX business card like SimplyCash or Blue Business, or business card like Chase Ink, BofA Business, etc.

Re: Should I apply for a 2nd AmEx?

chnceit — Thu, 15 Nov 2012 07:56:51 GMT

ficojoe wrote:
I just got my BCE and I am moving all my personal expenses to it.

I'd love to earn cash back on all my business expenses too. But, I'd like to keep them seperate and have my work pay the bill directly for me every month.

What is the best choice for this? I do not want an AF.

Will they approve me for a second card so soon? Do they have any options where I can just use the same credit limit but keep purchases seperate somehow?

Can you have two BCE cards? Or should I try for a clear or something else?

A charge card would be fine, I do not need a revolver, but I think all the charge cards come with an AF.

To build your business credit apply for a charge card. Build business relationship with AMEX then apply for a revolver.

Keep all business transactions seperate. Do not put on your personal AMEX because they will FR or eventually close your card because like other CCC AMEX specializes in business CC's.

Re: Should I apply for a 2nd AmEx?

ryanbush — Thu, 15 Nov 2012 15:21:17 GMT

trumpet-205 wrote:
Do NOT put business expense on AMEX personal card. Not only this is a violation of their terms but it is also an invitation to FR and possible AA.

Either open an AMEX business card like SimplyCash or Blue Business, or business card like Chase Ink, BofA Business, etc.

You're right and Wrong... OP - do you own the business? if this is a business you own you need to apply for a business card with AMEX.

But if you work for someone else and just get reimbursed you are fine with putting the charges on a personal card, that's is the reason most people get an AMEX revolver

Re: Should I apply for a 2nd AmEx?

trumpet-205 — Thu, 15 Nov 2012 17:24:50 GMT

ryanbush wrote:
But if you work for someone else and just get reimbursed you are fine with putting the charges on a personal card, that's is the reason most people get an AMEX revolver

I'd only agree with that if one's income can support those expenses. If AMEX sees you are spending beyond your monthly income that is a ticket for FR.

AMEX doesn't know you are getting reimburshed for those spending. All AMEX knows is that you spend those money and they want it back.

Re: Should I apply for a 2nd AmEx?

ficojoe — Fri, 16 Nov 2012 04:36:41 GMT

I work for a small 501(c)(3) non profit. I am the only employee and answer to the non-profits membership and report to them quarterly. I get reimbursed for expenses for them.

I just applied for and was approved for the SimplyCash® Business Card from American Express OPEN.

I didn't tell me my limit on this card...

Congratulations! You are approved!

For your protection, your new Card will be mailed to you at your home address. You should receive your Card within 10 business days.
Your application status and additional information are below. Every Business Card we offer comes with the dedicated support of the American Express OPEN® Team, available online and via phone 24 hours a day, 7 days a week. Let us know if you have any questions – we're happy to help.

Seriously, I need to be in the garden now. Here is the damage in the last few months. In July 2012, I had no revolving credit. Now I have:

Walmart store card, $850, issued August 2012 for $150, auto CLI to $850

Sams Club store card, $800, issued November 2012

AmEx BCE, $2,000, issued November 2012

Paypal Extras MC, $3,000 issued November 2012

AmEx SimplyCash® Business Card, will be issued within 10 days, limit not yet known

DCU Platinum (nice 8.5% interest card), $7,500.00, issued November 2012

Local credit union line of credit, $2,000, issued in October 2012

Local credit union credit card, $1,000, issued in October 2012

Amazon store card, $1900, issued August 2012 for $400, auto CLI to $1,900

Capitol One Secured Mastercard, $1000, issued July/August 2012

Kay Jewlers, $1000, issued August 2012

Citi/Shell store card, $800, issued November 2012

Maverick gas station card, $500, issued September 2012 ("hidden" tradeline)

Sadly, NFCU opened accounts for me and the fraud department closed them with no explination. So, for 2 months I had $7,500 line of credit, $7,500 cash+ visa, $2,500 platnium card. I requested a credit limit increase and they shut them all down and even closed my checking account... that was an odd hump in this journey.

I've paid off every card in full every month...

I am waiting on recon on 3 apps. After that, I think I will start the gardening :)